Articles & Videos

Understanding the New Kiddie Tax

2019-03-18T20:56:25+00:00March 18th, 2019|INDIVIDUAL TAX|

The Tax for Certain Children Who Have Unearned Income, informally known as the “Kiddie Tax,” can sneak up on unsuspecting taxpayers. This section of the Tax Code was initially created to prevent taxpayers from reducing their tax bill by shifting some of their unearned income — such as interest, dividends, and capital gains — into [...]

Is a Captive Right for Your Organization?

2019-03-18T14:37:12+00:00March 18th, 2019|CAPTIVE INSURANCE|

Not all organizations are good candidates for the formation of a captive insurance company. In most cases, captives tend to make the most sense for organizations that; are comfortable with managing their risks internally are comfortable with the retention of certain levels of risk have competent risk management professionals in place to lead the captive [...]

3 Benefits of Creating a Captive

2019-03-18T11:27:18+00:00March 18th, 2019|CAPTIVE INSURANCE|

What is a captive insurance company? This is a common question and one that can be answered in many different ways, as there are numerous different captive programs and structuring options. Perhaps the simplest definition for a captive insurance company is an insurance company that is owned by its insured(s). Captives are real insurance companies [...]

Captive Insurance Overview: Healthcare Provider Industry Highlights

2019-03-15T11:46:10+00:00March 15th, 2019|CAPTIVE INSURANCE, HEALTHCARE|

Healthcare provider captive insurance arrangements represent approximately 15% of the global captive insurance market and are currently one of the largest growing sectors within the captive industry due to the changing risk landscape that healthcare organizations are facing. Approximately 75% of hospitals now have some form of alternative risk management in place for their professional [...]

What Public Entities Can Teach Us About Revenue Recognition

2019-03-04T12:08:25+00:00February 28th, 2019|REVENUE RECOGNITION|

Any new accounting standard can throw us for a loop, but the new revenue recognition standard has made an especially strong impact. Not all revenue-generating activities fall under the purview of the new standard, but the changes are far-reaching and will affect a multitude of revenue streams in almost all industries. Public organizations should have [...]

Health Insurance Options for Small Businesses and Their Tax Implications

2019-03-04T11:19:30+00:00February 27th, 2019|BUSINESS TAX, SMALL BUSINESS|

As health insurance plays a bigger role in our political discourse, it becomes even more of a concern for small businesses. Already, more businesses are required to offer health insurance than in years past, and more individuals are demanding health coverage as a condition of their employment. When you consider the effects on employee retention, [...]

Seven Keys to Improving Medical Practice Cash Flow

2019-03-14T15:11:44+00:00February 23rd, 2019|HEALTHCARE|

No matter what specialties their physicians may have, healthcare practices must focus on collecting payments to remain profitable. Here are seven ways that practices can more accurately track patient collections. 1. Educate Personnel Personnel plays a significant role in the collection process. Delegating collection responsibilities to different staff members can improve a practice’s collection performance. [...]

How to Properly Organize Your Tax Records

2019-02-19T14:26:26+00:00February 21st, 2019|BUSINESS TAX, INDIVIDUAL TAX|

There never seems like a good time to organize your tax records, but the period of time between filings last year’s taxes and this year’s return can usually be the perfect time. While this task is never an exciting one, get it done and out of the way will only save you time and plenty [...]

CRI BRADENTON – CHRISTY CARDILLO: Manatee Chamber of Commerce Opportunity Zone Information Session

2019-02-19T14:28:53+00:00February 19th, 2019|Around Town|

CRI partner Christy Cardillo will join other Manatee County professionals to present an Informational Session surrounding Opportunity Zones on February 25, 2019. They will present on how the community can benefit from this new tax law, how to invest, and where investments can be made.

CRI BIRMINGHAM – BRIAN BARKSDALE: Alabama League of Municipalities Annual Convention

2019-02-19T14:19:10+00:00February 19th, 2019|Around Town|

CRI partner Brian Barksdale will present Municipal Budgeting: A Balancing Act at the Alabama League of Municipalities Annual Convention on May 6, 2019. He will review the importance of proper financial budgeting for municipalities and the impact on city management decisions and actions.

Taking Advantage of the Tax-Efficient Exit Strategy that ESOPs Offer

2019-02-19T10:33:03+00:00February 19th, 2019|BUSINESS TAX|

When you own a closely held company, and you start approaching retirement age, it’s easy to struggle with balancing conflicting goals for your business. In a case like this, an employee stock ownership plan (ESOP) may be the best answer. Take a Closer Look It’s common for business owners to have to tap at least [...]

How to Protect Yourself from Tax Identity Theft

2019-02-15T13:28:38+00:00February 15th, 2019|BUSINESS TAX, INDIVIDUAL TAX|

During the busy season, tax identity theft becomes a major issue as identity thieves seek out tax returns as their primary target. Considering that the IRS processes tax refunds every year that amount to billions of dollars, criminals simply have to follow the money. To file a fraudulent tax return and pocket your money, all [...]

CRI BIRMINGHAM: CFMA Southeastern Regional Conference

2019-02-12T17:35:37+00:00February 12th, 2019|Around Town|

CRI Partners Robert Coker, Larry May, and Britt Campbell will be presenting at the Construction Financial Management Association's Southeastern Regional Conference on April 26-27 in Chattanooga, TN. Their presentation will focus on fraud in the construction industry.

Physicians: Remember to Add Quickbooks Accountant’s Copy to Toolbox

2019-03-14T14:59:05+00:00February 12th, 2019|HEALTHCARE|

Medical practices often look for ways to maximize operational efficiencies, and they often need professional assistance with their accounting records – monthly, quarterly, or annual. How can a practice that uses QuickBooks® accounting software save time and money? The answer is by using an often overlooked feature known as the QuickBooks Accountant’s Copy (QAC). It allows [...]

Anti-Money Laundering (AML) Implications of Human Trafficking

2019-02-28T12:16:58+00:00February 12th, 2019|FINANCIAL INSTITUTIONS|

AML Perspectives Human trafficking is recognized as one of the fastest growing criminal enterprises, and with it comes unique challenges for AML professionals tasked with the detection and related reporting of money laundering red flags. The United Nations Office on Drugs and Crime define human trafficking as “the recruitment, transportation, transfer, [...]

What Does a Cash Balance Plan Mean for You?

2019-02-15T11:21:47+00:00February 7th, 2019|EMPLOYEE BENEFIT PLANS|

Back to the Basics Often described as a “hybrid arrangement,” cash balance plans are a specific type of defined benefit plan. When a cash balance plan is in place, employees will be eligible for an account that is credited yearly with a contribution that is “employer-funded.” That account is also guaranteed an interest amount that [...]

The Bright Side of Lease Accounting Compliance

2019-01-30T14:02:48+00:00January 30th, 2019|LEASE ACCOUNTING|

For three years, the new lease accounting standard has been a dark cloud on the horizon for every company that follows U.S. Generally Accepted Accounting Principles. But as we approach December 15, 2019, the effective date for nonpublic companies, keep in mind that there is a silver lining. When companies look beyond compliance and take [...]

2018 Underpayment Tax Penalties Waived by IRS

2019-01-28T11:02:16+00:00January 22nd, 2019|INDIVIDUAL TAX|

According to the IRS, they will be waiving underpayment penalties for anyone who had federal income tax withholding and estimated tax payments come in under their actual tax liabilities in 2018.  This waiver was constructed with the understanding that the Tax Cuts and Jobs Act (TCJA) would revamp the federal income tax regime and in [...]

CRI SHREVEPORT – UL Coleman Monthly Staff Meeting

2019-01-22T21:07:04+00:00January 21st, 2019|Around Town|

CRI Partner Hardy Foreman will be speaking alongside Joe Kane at the UL Coleman monthly staff meeting on January 25, 2019. They will present information on cost segregation, energy efficiency studies, federal and state historic tax credits, and opportunity zones.